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Manila Bulletin devider Business devider Singapore firm secures 'green lane' certification for wind, solar projects

Singapore firm secures 'green lane' certification for wind, solar projects

Published Jun 25, 2024 07:06 am

At A Glance

  • The construction for the Calabanga solar plant started in June 2023; and has already been granted certificate of endorsement to the Energy Regulatory Commission (ERC) by the Department of Energy (DOE), solidifying its stature then as a committed project under the Power Development Plan (PDP) of the country.
  • For the company's wind project, which straddles the municipalities of Calabanga, Tinambac, and Siruma – also in Camarines Sur, this is still at pre-development stage and construction is slated to kick-off by 2026; then commercial operations date (COD) is targeted by 2028.<br> 

Singapore-headquartered Nexif Ratch Energy Investments Pte. Ltd. (NREI) has secured "green lane" certification from the Board of Investments (BOI) that will streamline the permitting processes for its wind and solar projects in the Philippines.

According to the company, the green lane endorsement will cover its 74-megawatt Calabanga solar installation in Camarines Sur under corporate vehicle Calabanga Renewable Energy (CARE) as well as the proposed San Miguel Bay wind power project under ACX3 Capital Holdings.

For the solar farm installation, the sponsor-firm will be investing P3.695 billion; while the 500MW San Miguel wind farm project will command humongous capital outlay of P60 billion at its full commercial development phase.

As stated by Nexif Ratch Energy Director Matthew Bartley, who is also a co-founder of the company, the green lane certification will enable the company to “make significant progress” in advancing the commercial development of their projects.

The company executive noted that by leveraging on their expertise, they are confident of bringing their renewable energy (RE) ventures into commercial fruition and will viably contribute to the country’s power supply moving forward.

The construction for the Calabanga solar plant started in June 2023; and has already been granted certificate of endorsement to the Energy Regulatory Commission (ERC) by the Department of Energy (DOE), solidifying its stature then as a committed project under the Power Development Plan (PDP) of the country.

For the company’s wind project, which straddles the municipalities of Calabanga, Tinambac, and Siruma – also in Camarines Sur, this is still at pre-development stage and construction is slated to kick-off by 2026; then commercial operations date (COD) is targeted by 2028.

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo asserted that the solar and wind farm projects of Nexif Ratch Energy are regarded as “significant capital investment that will create consequential economic contribution and positive environmental impact for the Philippines.”

Nexif Ratch Energy indicated that for the off-take of the wind plant’s generated capacity, their plan is to join the green energy auction (GEA) to be carried out by the DOE; and default capacity sale may also be channeled through the Wholesale Electricity Spot Market.

NREI is a joint venture between Nexif Energy of Singapore and Ratch Group of Thailand; and they have been focusing on the development, financing, construction and even acquisition of both conventional and renewable energy facilities.

Related Tags

Board of Investments (BOI) wind plant Solar farm Green lane Nexif Ratch Energy
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